Profmedia holding company has taken a decision to shut down one of the most popular TV channels in the country – Russian MTV - in order to replace it with another entartainment channel.

      Profmeida company holds the license for the MTV brand and content from Viacom Media Networks. Recently the company has decided it will not prolong the five-year contract that expires in May 2013.

      In place of MTV channel, Profmeida will launch the new entertainment channel on the same frequency, called Pyatnitsa (Friday). The new channel is planned to be launched on June 1, 2013.

      MTV came onto Russian screens in 1998. It is among the top 20 most popular TV channels in Russia, though its popularity decreased a great deal after it was decided to change the channel's content from music videos to series and various entertainment shows related to sex and relationships, fashion and beauty.

      It is still unknown if the new channel will preserve that conception.